Message #36 From:
NewsBot Date: August 2, 2005 07:09:00 AM
STTC News SoftNet Technology Acquires Atlanta, Georgia Based Cord Consulting
BERNARDSVILLE, N.J.--(BUSINESS WIRE)--Aug. 2, 2005--SoftNet Technology (OTCBB Symbol: STTC) (German WKN#: A0B7RZ) announced today the acquisition of Atlanta, Georgia Based Cord Consulting (Cord). Cord has been merged into SoftNet Technology's wholly owned subsidiary, Indigo Technology Services.
In business for over three decades, Cord provides information technology services to small and medium size businesses. These services include sale, installation, maintenance and repair of computer and network hardware and software, local and wide area communications, and client applications. Acting as an outsourced Information Technology resource, Cord monitors critical processes and advises clients on optimal ways to achieve IT goals while containing costs. Cord has maintained relationships with several of their clients for more than a decade due to the excellence in service provided by Cord.
Cord Consulting brings approximately $12,000 per month in revenue to Indigo. Additionally, this Acquisition brings a very impressive client list that greatly enhances Indigo's core business. This completes the first acquisition since the engagement of Stanton Walker by SoftNet Technology. Stanton Walker will continue to forge ahead with other potential acquisition candidates for SoftNet as well as continue to provide Business consulting and advisory services.
"I am very excited to complete this acquisition," said Mr. Farinella. "Stanton Walker has quickly added value to SoftNet not only through acquisition assistance, but also in providing business advice and consulting to our current subsidiaries."
Please visit our website at www.softnettechnology.com for more information or for Investor Relations, please contact Stephanie Soleas, Blue-Sky Solutions at (877) 4-BLUE-IR or sttc@blueskyir.com. You may also call the company directly at 866-898-4842 (local - 908-204-9911) James M. Farinella, CEO.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf of the company. All such forward-looking statements are, by necessity, only estimates of future results and actual results achieved by SoftNet Technology Corp (STTC) may differ materially from these statements due to a number of factors. STTC assumes no obligations to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting such statements. You should independently investigate and fully understand all risks before making investment decisions.
